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Business

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PNC quarterly earnings down 3%

PNC Financial Services Group Inc. on Wednesday reported first-quarter earnings of $811 million, or $1.44 per diluted common share, a 3 percent decline from the $832 million, or $1.57 a share, posted for the same three months of 2011.

The Pittsburgh-based bank entered the Fort Wayne market in 2009 with the acquisition of Cleveland-based National City.

During the quarter ended March 31, PNC completed another acquisition -- RBC Bank (USA), the U.S. retail banking subsidiary of Royal Bank of Canada. The purchase of more than 400 branches brings PNC’s total to 2,900 bank branches in 17 states and the District of Columbia.

James Rohr, chairman and CEO, said PNC will focus on growing its market share in the Southeast, the location of the former RBC branches.

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